Posted on 08/30/2018 9:51:18 AM PDT by Olog-hai
Senate Minority Leader Chuck Schumer (D.-N.Y.) held a press briefing on Tuesday—one day before the Bureau of Economic Analysis released its second estimate of Gross Domestic Product (GDP) growth in the second quarter (stating it was 4.2 percent)—at which he stated that Americans “for too long” have been relying “on GDP alone as a bellwether” of how Americans are doing economically. […]
“America’s working families deserve the full picture when the federal government publishes data showing how the economy is doing, especially with the quarterly numbers,” he said. […]
“Too often, when we hear that GDP is rising and the economy is booming, as the president claims, there’s an assumption that all Americans are reaping the benefit equally, when in fact wages for the middle class remain flat and income inequality gets worse. To this end, Senator Heinrich and I, and many others, will be introducing new legislation today—and you’ll hear more about it from Martin—that requires new income growth data to be published alongside quarterly GDP reports.” …
(Excerpt) Read more at cnsnews.com ...
Funny how he never raised this point when Obama was President.
Translation - Since the GDP numbers are good during a Republican President’s term, we need to change the measure to something else.
GDP alone?
I can think of a dozen metrics in use.
The Obama admin liked the unemployment rate much more than GDP.
What a dim bulb.
“The GDP numbers are too favorable to Trump so we need to re-LIE on something else more to our tase, like number of marijuana dispensaries”
LMAO, sore loser Chuckie is outdoing previous sore losers like Obama and Kankles!!
What a maroon.....
Hahahaha lolololo - Oh Chuckie. You’re so transparent.
I can’t stand that guy. He’s greasy.
OK Schmuckie, let’s use the Misery Index. The more Democraps win elections, the more miserable the country is.
Chucky will want to use anecdotal information. He’ll say there are thousands of homeless people (shitting on the sidewalk) in San Francisco and Manhattan because Trump colluded with Russia.
Dem plans will hurt GDP. They need a different measurement in place to avoid criticism of what happens when they do what they want to do.
What about all the people who weren’t counted during Obama’s Presidency?
I’ve noticed a direct correlation with economic growth and declining CNN ratings.
What an incredible shameless phony he is.
I always thought GDP was just that - GDP. I guess we could throw in some other stuff, like how unemployment numbers are trending, whether more or less people are using food stamps, etc.
That might help make the picture a bit clearer as to “How Americans Are Faring” for Chuckie.
Median disposable income is a much better metric, maybe the best possible on a “greatest good for the greatest number” basis.
However it is also inconvenient for his political purposes.
Unfortunately it is not timely.
Schumer is a putrid bastard.
Take this “new measurement” and compare it to the Obama years. Or will the Democrats try to hide that?
Absolutely correct.
“Let’s raise everybody’s taxes. That’ll help ‘em.”
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